Answers about Funds Availability
A friend wrote me a check to repay a small debt. The bank that the check is drawn on has released the funds, but my bank is still holding the funds. Can it do this?
Yes. Your bank may still hold the funds per its funds availability policy. Or it may have placed an exception hold on the deposit. If the bank has placed a hold on the deposit, the bank generally must provide you with written notice of the hold.
If your bank is a national bank or federal savings association, and you believe it is holding your funds in excess of the time allowed, file a written complaint with the OCC's Customer Assistance Group.
If your bank is not a national bank or federal savings association, you should file a complaint with the appropriate regulator.